We bought a home 5 years ago and we are trying to sell it. We recently discovered that the loan we were given wasn't a mortgage, and the back of the loan says that "collateral not to be used as primary residence". That's confusing, we live in a manufactured home in a trailer park, is this standard procedure, we are upset because this means our loan is now not assumable, and it's really hard to find a buyer. Does anybody know if this is normal, or was I suckered into the wrong type of loan? Can I get in trouble for this, and will this affect selling my home?
2007-12-13
17:45:47
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5 answers
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asked by
contenteeyore
1
in
Renting & Real Estate